Pier 88 Investment Partners LLC Has $754,000 Stock Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Pier 88 Investment Partners LLC lowered its stake in Tyler Technologies, Inc. (NYSE:TYL) by 100.0% during the second quarter, Holdings Channel.com reports. The fund owned 1,500 shares of the technology company’s stock after selling 6,013,350 shares during the period. Pier 88 Investment Partners LLC’s holdings in Tyler Technologies were worth $754,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Independence Bank of Kentucky acquired a new position in shares of Tyler Technologies during the 2nd quarter worth approximately $25,000. Kapitalo Investimentos Ltda acquired a new position in Tyler Technologies during the fourth quarter worth $26,000. Covestor Ltd raised its position in Tyler Technologies by 153.6% during the first quarter. Covestor Ltd now owns 71 shares of the technology company’s stock worth $30,000 after acquiring an additional 43 shares in the last quarter. Blue Trust Inc. lifted its stake in Tyler Technologies by 329.4% in the second quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock valued at $37,000 after acquiring an additional 56 shares during the last quarter. Finally, Lynx Investment Advisory acquired a new position in shares of Tyler Technologies during the 2nd quarter worth about $38,000. Institutional investors own 93.30% of the company’s stock.

Tyler Technologies Stock Performance

NYSE:TYL opened at $581.16 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $24.80 billion, a PE ratio of 131.48, a price-to-earnings-growth ratio of 5.43 and a beta of 0.78. Tyler Technologies, Inc. has a twelve month low of $361.16 and a twelve month high of $593.50. The stock’s 50-day simple moving average is $556.07 and its 200 day simple moving average is $487.69.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.34 by $0.06. The company had revenue of $540.98 million for the quarter, compared to analyst estimates of $541.01 million. Tyler Technologies had a net margin of 10.24% and a return on equity of 9.66%. The firm’s revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.53 EPS. On average, analysts anticipate that Tyler Technologies, Inc. will post 7.21 EPS for the current fiscal year.

Insider Activity

In other Tyler Technologies news, CFO Brian K. Miller sold 800 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $479.28, for a total transaction of $383,424.00. Following the sale, the chief financial officer now directly owns 12,736 shares of the company’s stock, valued at approximately $6,104,110.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Brian K. Miller sold 2,500 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $586.97, for a total transaction of $1,467,425.00. Following the completion of the transaction, the chief financial officer now directly owns 11,950 shares in the company, valued at $7,014,291.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brian K. Miller sold 800 shares of Tyler Technologies stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $479.28, for a total value of $383,424.00. Following the completion of the transaction, the chief financial officer now directly owns 12,736 shares in the company, valued at $6,104,110.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,825 shares of company stock valued at $9,643,553. 2.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TYL. Piper Sandler raised their target price on shares of Tyler Technologies from $529.00 to $625.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. The Goldman Sachs Group increased their price target on Tyler Technologies from $515.00 to $627.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Wells Fargo & Company raised their price target on Tyler Technologies from $580.00 to $600.00 and gave the company an “overweight” rating in a report on Friday, July 26th. BTIG Research upped their price objective on shares of Tyler Technologies from $550.00 to $630.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Loop Capital raised their target price on shares of Tyler Technologies from $485.00 to $530.00 and gave the stock a “buy” rating in a research note on Tuesday, May 21st. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $582.31.

Tyler Technologies Company Profile

Tyler Technologies, Inc provides integrated information management solutions and services for the public sector. It operates in two segments, Enterprise Software and Platform Technologies. The company offers platform and transformative technology solutions, including cybersecurity for government agencies; data and insights solutions; digital solutions that helps workers and policymakers to share, communicate, and leverage data; payments solutions, such as billing, presentment, merchant onboarding, collections, reconciliation, and disbursements; platform technologies, an application development platform that enables government workers to build solutions and applications; and outdoor recreation solutions, including campsite reservations, activity registrations, licensing sales and renewals, and real-time data for conservation and park management.